Business news from Ukraine

DARNITSA PHARMACEUTICAL FIRM SEEKS TO BUY OUT 25% OF BORSCHAHIVKA CHEMICAL PLANT

16 June , 2016  

KYIV. June 16 (Interfax-Ukraine) – Private joint-stock company Darnitsa pharmaceutical firm (Kyiv) has proposed to shareholders in public joint-stock company Research and Industrial Center Borschahivka chemical and pharmaceutical plant (Kyiv) that the firm will buy out 25% of shares in the Borschahivka plant for UAH 80,000 per share.

Darnitsa pharmaceutical firm said in the Holos Ukrainy newspaper on Wednesday that the company seeks to buy 2,588 shares with a face value of UAH 4.759 million for UAH 207.04 million.

Darnitsa will accept the proposals of shareholders in the plant before August 31, 2016.

The firm will pay in cash or settle cashless payments using own funds of Darnitsa pharmaceutical firm.

The pharmaceutical firm said that the shareholders who will sell their shares will receive dividends accrued for 2015.

As reported, on March 20, 2015, an auction was held where Kyiv City sold its 30% stake in Borschahivka chemical and pharmaceutical plant for UAH 171.844 million. The financial company Kub, which represents the interests of Darnitsa pharmaceutical company, bought the stake. The Antimonopoly Committee of Ukraine in January 2016 permitted private joint-stock company Darnitsa Pharmaceutical Firm (Kyiv) to acquire over 50% of share in the plant.

However, Borschahivka chemical and pharmaceutical plant said that the plant is not holding negotiations on the sale of a controlling stake in the company and the company has attracted international advisors to receive recommendations on defining the value of the enterprise and protecting it from unfriendly actions.